Lockheed Martin Snaps Up CDL Assets

On Friday, Lockheed Martin (NYSE: LMT) announced that it has purchased "substantially all" the assets of unmanned vehicle control software maker CDL Systems. Financial terms of the deal were not disclosed, but in a statement, Lockheed noted that the deal is so small the cost will not be "material."

CDL, based in Calgary, is the developer of an open, standards-based, and commercial off-the-shelf software product said to be used in "numerous" unmanned vehicle platforms. Lockheed says it intends to incorporate CDL into its new Mission Systems and Training business.

Lockheed shares closed at $93.13 for the day, up 0.7%, before the CDL deal was announced.

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment icon found on every comment.